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Aston Martin Aramco F1 Owner Lawrence Stroll Talks Upcoming Season | Bloomberg Talks

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Aston Martin Aramco F1 Owner Lawrence Stroll Talks Upcoming Season | Bloomberg Talks

Transcript

197 segments

0:00

We're very confident. We started a

0:02

little bit behind our competitors.

0:04

Adrian only joined us in March. We

0:06

didn't get our first wind tunnel car

0:09

into the wind tunnel until uh April. So

0:12

slightly behind our competitors. I

0:14

believe we're in their tunnels in

0:16

January. Um we have a lot of new a lot

0:19

of new partner with Honda, a new power

0:20

unit. We have a new gearbox we're making

0:23

for the first time. We uh we we have new

0:26

sustainable fuels with our fantastic

0:28

partner Ramco and Valvalene for our

0:31

lubes in our engine and our gearbox. So

0:34

there's a lot of new uh first time in 75

0:36

year Formula 1 history that they're

0:39

change the chassis and the power unit

0:41

simultaneously. So it'll be very

0:44

exciting no doubt and uh be a lot to

0:46

learn in the coming first coming races.

0:48

What would be um what would be a win for

0:50

you or what would be success for you in

0:52

terms of placement this season? What do

0:54

you what do you expect to get?

0:56

>> Um I we don't really go in with

0:59

expectations. We're going to try our

1:01

best, do the best we can. I'm quite

1:03

confident with the team we've put

1:05

together and the partners I've just

1:06

mentioned that we'll do a great job. You

1:09

know, this set of rules is here with us

1:11

for five years. So, it's not about the

1:14

first race or two. It's it's it's about

1:16

the next five years. Um, again extremely

1:19

confident we have the right people, we

1:21

have the right tools, we have the right

1:22

processes, we have the right partners.

1:24

So I'm very confident for extremely

1:26

confident for our future. We have seen

1:29

reporting that Mercedes and Red Bull

1:31

have found some kind of edge with v

1:33

variable engine compression. It's all

1:35

very technical. Um, some have accused

1:37

them of cheating like animals, I think

1:39

was a was a quote I heard. Others have

1:41

defended them. Christian her came at

1:42

their defense. What do you think about

1:44

um people looking for an edge in the

1:46

rules ahead of the ahead of the season?

1:48

>> Listen, you're always looking for an

1:50

edge in the rules and you're always

1:51

looking to find loopholes. That's part

1:53

of Formula 1. Um I'm not a technical

1:57

power unit guru to really give an

2:00

opinion on exactly what they've done,

2:02

but I will leave it to those who are in

2:05

the know. Obviously, there's a lot of

2:06

talk going on between the various power

2:09

unit teams and the FIA to check the

2:12

legality of what they've done.

2:14

>> How about uh your confidence in Adrien

2:17

Nui? Obviously, um everyone's very

2:19

excited to see what he can do with your

2:21

team and other teams have uh looked with

2:24

a little bit of wonder and awe at the

2:26

suspension, for example, that he's been

2:28

able uh to create. What do you think are

2:30

are your biggest advantages with him?

2:32

>> You said it. It's having him. He is the

2:34

goat. He is a unicorn. Um, nobody has a

2:38

track record like he's had since his

2:40

times in Formula 1, winning 25 world

2:43

championships. He is unique. There's one

2:45

Adrian and I am very blessed that he's

2:48

my partner and with our team. Now,

2:50

>> I was uh lucky enough to speak with

2:52

George Kern last week uh CEO of

2:54

Brightling and you now have a new

2:56

partnership with them. What do they

2:57

bring to the team beyond, you know, the

3:00

brand?

3:01

>> Well, Formula 1's all about time. It's

3:03

it's about the the stopwatch. It's about

3:05

the clock. So, one of the important

3:07

partners is is obviously a timekeeper

3:10

and you know there there there's a

3:13

fashion aspect around Formula 1 of the

3:16

way people dress of attitudes and I

3:18

think Brightling captures the time

3:20

component with their historic with their

3:23

history um with their great time pieces.

3:25

You know, they have a history also in in

3:27

aviation. So, I think it's very

3:29

appropriate to to these two great brands

3:31

to be together.

3:32

>> By the way, a little bit of a curveball

3:34

here, Lawrence, because yesterday was

3:35

the Super Bowl and the Seattle Seahawks

3:37

were victorious. They're not too far

3:40

away from Canada and there are reports

3:41

that that team may be for sale. Would

3:43

you ever consider going into another

3:46

league, going into another sport beyond

3:48

the track?

3:49

>> Uh, no. I have my plate full right now.

3:51

I'm uh I'm absolutely thrilled with what

3:54

I'm doing. And sadly, you just spoiled

3:57

it for me cuz I was planning to go back

3:58

to my hotel tonight and watch a replay

4:00

of the game cuz I was trying not to know

4:02

who had won. So, I made it this far.

4:04

>> Um, okay. I apologize. That's awful.

4:07

Although, you know, it was the Super

4:08

Bowl. So,

4:09

>> that's okay.

4:10

>> Um, in terms of the F1,

4:13

>> in terms of the F1 team that that you

4:15

own, I mean, valuations have been

4:16

amazing. There are reports now that

4:18

maybe Al Alpine is uh looking to sell a

4:22

stake and I wonder if you would be

4:24

interested in selling any of your stake

4:27

or your team at this point because it's

4:30

worth so much.

4:31

>> Yeah. No, I'm I'm very satisfied with my

4:33

shareholding. We're not looking to uh to

4:36

to sell any shares. We're looking to

4:38

grow the business and to do great in the

4:40

sport.

4:41

>> Let's talk about the car business. I've

4:43

been lucky enough to have seat time in

4:44

the in the Vanquish as well as uh the

4:47

Vantage and the and the DBX. They're

4:49

they're amazing cars and I have to say

4:52

that um a huge alternative to Ferrari is

4:57

what you offer and something that has

4:59

more beauty than sort of the kind of

5:01

technical prowess that the Italians have

5:04

uh leaned into. Um what do you think the

5:07

market is getting wrong about Aston

5:10

Martin the business? I think it's just a

5:12

question of time. Um, not many people

5:16

learned about the DBX. They're actually

5:18

finding out about it now. They were not

5:20

familiar that we even made an SUV cuz we

5:23

don't historically uh make a product

5:25

like that. It's it's actually doing

5:27

extremely well at the moment. The

5:29

Vanquish, as you say, is on fire. We

5:32

have a fantastic order book for that as

5:34

well as DB12 and as well as Vantage. So

5:37

for us it's now a matter of sticking

5:40

with our portfolio, growing our demand,

5:44

getting our dealers in place. The

5:46

dealers weren't used of also having such

5:48

a diverse product offering from the

5:50

company, particularly with the launch of

5:52

Valhalla. So you know, not so difference

5:55

in Formula 1. Everything takes time.

5:57

I've been in the road car business a

5:59

similar amount of time as I've been in

6:01

the Formula 1 team. And it's also a

6:04

10-year journey. So, we're we're we're

6:06

quite pleased w with where we are and

6:08

we're quite pleased with the portfolio

6:10

that exists and very excited about the

6:12

portfolio that'll be coming in the years

6:14

to come. I'd say I drove the DBX through

6:16

our snowstorm in New York last week and

6:18

it functioned perfectly. Um I wouldn't

6:20

wouldn't want to change a thing there.

6:22

With the Vantage, I might like to add an

6:24

extra pedal. And I wonder if you've

6:26

thought about leaning into the analog

6:29

side of things. Aston Martin has always

6:32

uh represented like a mechanical

6:34

intimacy whereas Ferrari seems to be

6:37

leaning into sort of technical and

6:38

computational excellence. Do you think

6:41

that would be a good analog? Well, we we

6:44

introduced two manual specials. So, we

6:47

already have um two five-speeds that

6:49

we've introduced in the last 3 years to

6:52

great demand. So we believe that as you

6:54

call the analog is still very relative

6:57

for today's particularly Aston Martin

7:00

customers. So, you don't think there's

7:03

any room for a a manual vantage um at

7:07

your dealerships? Because it does seem

7:09

like when I look through the, you know,

7:11

the the auctions and um the used car

7:15

listings, they command a huge premium,

7:17

sometimes 100% premium for a manual car

7:21

over an automatic.

7:22

>> Yeah, that's probably true. No, that

7:24

that's not planned for our lineup at the

7:26

moment.

Interactive Summary

The Formula 1 team started the season a bit behind competitors but is confident due to new partnerships with Honda and Ramco, new sustainable fuels, and a new gearbox. Adrian Newey, described as "the goat" and "a unicorn," has joined the team, bringing a wealth of experience and success. The team has also partnered with Brightling, a timekeeper that aligns with the precision and fashion aspects of Formula 1. Regarding the road car business, Aston Martin is seeing strong demand for its models, including the DBX, Vanquish, DB12, and Vantage. The company is focused on growing its business and believes that a "mechanical intimacy," including manual transmissions, is still relevant to its customers.

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